Thomas Alonso
July 15, 2022

Consumer Confidence Falls Below 50‐Point Mark For First Time Since December 2020

by Thomas Alonso.

The Refinitiv/Ipsos Primary Consumer Sentiment Index for July 2022 is at 49.5. Fielded from June 24 ‐ July 8, 2022, the index has now declined in back‐to‐back months.

Thomas Alonso, Senior Analyst at Refinitiv, said, “The Refinitiv Retail/Restaurant Index is looking at a ‐7.6% blended estimated earnings growth rate for 2Q2022. Currently, low‐income consumers are being squeezed the most in the absence of stimulus checks that last year boosted their cash flow. On top of that, they are facing higher inflation that is diminishing
their spending power. Higher fuel prices is also attracting the next tier up ‐‐ lower‐middle class consumers who are trading down looking for value.”

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